June 23 (Cointime) - The IMF has highlighted the benefits of CBDCs, stating that they could lower remittance costs and improve financial inclusion. The organization also called for regulation of crypto assets to ensure their safe integration into the payment system.

June 20 (Cointime) - According to the Atlantic Council, over 100 countries are currently exploring the possibility of a central bank digital currency (CBDC), while 11 countries have already launched their own CBDC. However, most CBDC initiatives are not focusing on interoperability.

June 20 (Cointime) - According to a report by the IMF, XRP is emerging as the leading platform for Central Bank Digital Currencies (CBDCs). The report explores three models for CBDC platforms, with XRP's design as a private settlement asset and marketplace providing compelling advantages.

The IMF has suggested that the US Federal Reserve should continue to raise interest rates for a longer period in order to control inflation, and has also urged the Biden Administration to tighten fiscal policy to reduce federal debt. The Fed is expected to increase rates by 25 basis points in June, and officials believe that the FOMC must continue to raise federal funds rates to over 6%. As the US Treasury Department plans to issue $600-$700 billion in Treasury bills after the debt ceiling deal, the stock and crypto markets are expected to enter a correction phase. 

The International Monetary Fund (IMF) has expressed optimism about the economic prospects of the Central African Republic (CAR) one year after its adoption of Bitcoin. The IMF's report indicates a projected rebound in real GDP growth to 2.2% in 2023, with an average inflation rate of 6.3%. While the projected public debt of the CAR is expected to remain sustainable, the report highlights significant liquidity risks due to potential shortfalls in donor support and challenges in accessing domestic and regional markets. Despite being one of the poorest nations in the world, the CAR is leveraging the potential of Bitcoin to reshape its financial infrastructure and boost its economic prospects. The government is actively working on legal amendments to enable the smooth integration of the national token, Sango Coin, built on the Bitcoin Network.

The International Monetary Fund (IMF) has released a working paper assessing Nigeria's eNaira central bank digital currency (CBDC) on its first anniversary. While the IMF researchers praised the eNaira's performance, they also suggested improvements. The paper found that the eNaira's retail side was intermediated, but had no latency issues. However, it has yet to make a breakthrough beyond initial adopters, and only about 1.5% of wallets are active on any given week. The paper recommends boosting eNaira usage by incentivizing merchants and using it for social payments in conjunction with mobile money operators.

This week, a panel discussion on the next steps for cross-border payments occurred between May 10 and May 11 as part of the Digital Monetary Institute (DMI) symposium in London.

The International Monetary Fund has cautioned Zimbabwean authorities to carefully consider the potential risks of issuing a gold-backed digital currency, and instead suggested liberalizing the foreign exchange market. The IMF's warning comes after the Reserve Bank of Zimbabwe began issuing gold-backed digital coins to slow down local demand for US dollars. The IMF spokesperson emphasized that a careful assessment should be conducted to ensure the benefits of the measure outweigh the potential risks, including macroeconomic and financial stability risks, legal and operational risks, governance risks, and the cost of forgone FX reserve. The IMF also suggested sticking to conventional solutions, such as maintaining a tight monetary policy.

Human rights activist and lawyer Femi Falana has accused the International Monetary Fund (IMF) and the World Bank of sabotaging the currency swap between China and Nigeria, claiming that they are perpetuating the dominance of the US dollar in Nigeria. Falana has also accused the Nigerian federal government of continuing to dollarize the economy while other nations are promoting their own currencies. Falana's claims follow revelations that Nigeria's currency swap agreement with China has not benefited Nigeria and that the trade imbalance between the two countries is one of the reasons the swap arrangement failed.

(Reuters) -The International Monetary Fund on Thursday warned of "uncertainty" around the direction of Japan's monetary policy, saying a possible shift from ultra-low interest rates could have a significant impact on global financial markets.The director of the IMF's Asia and Pacific Department also highlighted risks surrounding Asia's economic outlook, including weakening exports, slowing productivity in China, and the fragmentation of global trade. There is a risk that the global economy fragments into trading blocs, which could deal a particularly heavy blow to export-reliant Asia.